Income Tax
Latest News
Carr, Riggs & Ingram Adds ProSport CPA
Review of SuiteFiles – The Accounting Technology Lab Podcast – August 2024
Avalara Adds Generative Chat to Bolster Support and Product Experiences for Customers and Partners
What Can be Done About the Accounting Talent Shortage?
![myths_1_.546cd4a42239e](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/07/17364/myths_1_.546cd4a42239e-768x510.png)
Top 10 Myths for the 2015 W2 and 1099 Wage Reporting Season
As the year winds down, the holiday season brings with it tax reporting season – which can be a hectic time for businesses. Changing regulations, looming deadlines and the threat of penalties can quickly replace “jolly” with “humbug.”
![business identity theft 1 5649f68c33157](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/07/20376/business_identity_theft_1_.5649f68c33157-768x462.png)
IRS Not Doing Enough to Fight Business Tax ID Theft
TIGTA found that the IRS recognizes continued efforts are needed to develop and implement systemic processes to detect identity theft. To date, the IRS has taken actions that include defining business identity theft, creating procedures for IRS ...
![Staffing 1 56250db463e93](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/07/20115/Right_of_Way_Staffing_1_.56250db463e93-768x576.png)
6 Tips for Tax Season Staffing at Accounting Firms
With tax season looming, now is the time for accounting firms to ramp up their staffing strategy. Determining your needed mix of full-time and temporary professionals — before holiday time-off — will set you on a course for success come 2016.
![sub compensation 1 55f6d2ef69fa4](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/07/19721/sub_compensation_1_.55f6d2ef69fa4.png)
What Accounting Firms Need to Know About Updating Salaries and Giving Raises
If you can’t remember the last time you reviewed your employees’ compensation, it’s been too long. Your staff members know what they’re worth and what the local job market is paying, and so should you. At least once a year, benchmark your firm’s ...
![IRS_building.jpg_10964131](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/07/19059/55dc520d88033614350f6a706700647c.jpg_10964131-768x514.png)
IRS Drops PTIN Fee to $50
The fee for new PTINs and renewals will be $50, down from $64.25 and $63, respectively. The agency also reminded return preparers of major upcoming changes regarding which tax return preparers can represent clients in matters before the IRS.
![Tax prep fees 2015 552fea24dea92](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/07/18527/Tax_prep_fees_2015.552fea24dea92.png)
Average Income Tax Preparation Fees Increased in 2015
The average cost of a professional income tax preparer to handle a "typical" 2014 tax return (the one filed by April 15, 2015) was $273 this year. This includes an itemized Form 1040 with Schedule A and a state tax return, according to the National ...
![Tax ID Theft 1 54d6d07eafd9c](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/07/17961/Tax_ID_Theft_1_.54d6d07eafd9c.png)
Thomson Reuters Offers New Guide On Tax Identity Theft
According to the Federal Trade Commission, identity theft is the fastest growing crime in America, with the number of identity theft incidents nearing 10 million a year. In a recent Thomson Reuters survey, 92% of the tax professionals who responded ...
![health care insurance premium tax credit 1 562947a06dcfe](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/07/20196/health_care_insurance_premium_tax_credit_1_.562947a06dcfe.png)
A Small Business Prescription for Health Insurance Premium Tax Credits
Employers are facing increased obligations in 2015 relating to the health insurance coverage provided to employees, but at least some small business owners might benefit from a special tax break.